Chartered Life’s stock trading to begin Sunday

The share trading of Chartered Life Insurance Company will start on Sunday next under the ‘N’ category.

The trading code of the company in the Dhaka Stock Exchange (DSE) will be ‘CLICL’ and the company code will be 25755, said a media statement issued by the DSE on Wednesday.

The company deposited the allotted shares to the investors’ beneficiary owners (BO) accounts through CDBL on Wednesday

Earlier on July 6, the stock regulator Bangladesh Securities and Exchange Commission (BSEC) approved the company’s initial public offering (IPO) proposal.

Chartered Life raised Tk 15 crore through IPO by offloading 1.5 crore ordinary shares at a face value of Tk 10 each.

The fund raised from the capital market would be spent on the purchase of government securities, investment in the capital market, and meeting the IPO expenses.

With a life insurance fund of Tk 35.21 crore, the company has Tk 45 lakh in hands for the dividend payment to its shareholders.

AAA Finance and Investment Limited, AB Investment Limited, and Trust Bank Investment are acting as the issue managers for the company’s IPO proceeds.